Ethical Principles

At OMV we believe that a sustainable business can only be built on a foundation of fairness and integrity.
OMV generates direct economic value and indirect economic value in numerous countries worldwide. It is therefore imperative that we act in accordance with the highest ethical standards on an international level, everywhere we operate, and enforce these standards throughout our supply chain. We are signatories to the UN Global Compact and the UN Guiding Principles on Business and Human Rights, and we conduct our activities in accordance with the OECD Guidelines for Multinational Enterprises. Across all our global operations, we comply with relevant legislation and require our supply chain to meet the standards set out in our code of conduct and follow our key policies and principles.
More information about OECD
OECD Guidelines for Multinational Enterprises
Ethics & Integrity
Ethical conduct is ingrained in our company culture, guiding our decision-making at all levels. We’ve established an Ethics & Integrity Policy, which defines the core principles of acting ethically and with integrity ("Ethics & Integrity Principles”). These principles are intended to shape the way we do business, outlining what we consider acceptable and appropriate behavior above and beyond compliance with laws and regulations.
Business Ethics and Anti-Corruption
Our Code of Business Ethics, approved by our Executive Board, is at the center of our governance procedures. Along with our Ethics & Integrity Policy and our Code of Conduct, it shapes our approach to ethical conduct and applies in all countries where OMV operates.
The Code of Business Ethics sets out a zero-tolerance policy on bribery, fraud, theft, and other forms of corruption and covers:
- Conflicts of interest
- Bribes and facilitation payments
- Intermediaries and lobbyists
- Gifts and hospitality
- Donations
- Competition and anti-trust law
- Trade control and embargoes
The Code of Business Ethics applies to all of our employees. Last revised in 2023, it is aligned with both Austrian law and key international anti-corruption legislation, including the OECD Anti-Bribery Convention and the UK Bribery Act.
Compliance management system
Our compliance framework supports the implementation of our standards and monitors our compliance with relevant laws, regulations, our Code of Business Ethics and the Ethics & Integrity Policy. More information can be found here: The OMV Compliance Management System.
The effectiveness of the compliance management system is regularly evaluated and has been certified according to the IDW PS 980 standard by external auditors. The most recent audit report is available here.
Risk analysis of compliance
We carry out regular risk analyses to enable continuous improvement. This involves monitoring both external and internal risk factors, including regulatory changes and recent developments and incidents, to evaluate any possible impacts.
Conducted annually, this risk analysis forms a part of our Enterprise-Wide Risk Management system. It is conducted in cooperation with local compliance officers and the Risk and Insurance Management Department.
Downloads
Code of Conduct
Code of Business Ethics
Ethics & Integrity Policy
The OMV Compliance Management System
Supply Chain
Procurement and compliance
All of our suppliers need to comply with both legal requirements and our HSSE standards. To ensure alignment with our principles and mitigate risks related to forced labor, slavery, and human trafficking, all supply chain partners are required to sign our Code of Conduct. In instances where suppliers fail to comply with our policies, and do not address the situation adequately and in a timely manner, we are able to end the relationship.
In addition, suppliers of OMV Supply & Trading Ltd. are required to sign a business ethics clause, confirming that their activities will be conducted in accordance with all applicable laws, governance regulations, and the highest ethical standards.
OMV conducts two types of audits of its suppliers and contractors: on-site "Together for Sustainability" audits that focus on the sustainability performance of a company, and remote full-scope audits performed by an external auditor. The audits are carried out as part of the prequalification process and/or during contract execution. During the audits, we pay special attention to the financial stability, strategy and organization, supply chain, sustainability (e.g., social and environmental issues), and their cybersecurity performance. Where a supplier does not meet our standards of integrity or does not have suitable controls in place, we consider whether it is possible to work together to implement improvements. If this is not possible, we terminate our relationship with the supplier.
Working with local suppliers
We encourage local procurement in order to create shared value in the communities we operate in. We support local suppliers by improving their capabilities to meet higher technical, HSSE and business standards. The spend with local suppliers in 2023 at Group level was 71.2%.
You can find our Supplier Code of Conduct (as part of General Conditions of Purchase at OMV) here.
Community Relations and Development
Community Relations
We believe that being a responsible neighbor is key to the long-term success of our operations. That’s why we place great importance on being transparent, building trust, and establishing cooperative relationships with local communities.
We understand that our business activities can have significant effects on local communities. We therefore regularly engage with local stakeholders to build relationships based on mutual trust and respect. Investing in local development, safeguarding of human rights, and ensuring that our local suppliers follow our Code of Conduct and pursue sustainable practices, are key aspects of our approach to community relations. For more information, see Human Rights and Supply Chain.
Our community relations and development management process begins with a Social Impact Assessment (SIA), which is conducted whenever we enter a new area or there is a material change in our operations. The purpose is to ensure that the views of local communities, especially of indigenous peoples, are considered at every stage of the project lifecycle. These assessments include a baseline study, evaluation of community needs, stakeholder analyses, and identification of any social risks. Where possible, SIAs are conducted in a participatory manner, involving direct consultation with potentially affected communities or their representatives.
Based on the outcome, local social responsibility teams develop and implement site-specific strategies for community relations and development. Local stakeholder engagement plans and Community Grievance Mechanisms (for more info see Community Grievance Mechanism) are also developed and followed to ensure open channels of communication throughout the project lifecycle.
Our community relations and development management approach are based on centralized policies, standards and targets, and implemented by locally responsible persons with local resources. At a group level, this is managed by our Corporate Affairs team, who are responsible for ensuring adherence to our group-wide principles as well as the overall effectiveness of our social responsibility actions.
Community Grievance Management
We understand that our business can impact the communities in which we operate in both positive and negative ways. For example, our operations create new opportunities in terms of employment and the growth of local suppliers, but can also cause issues such as dust, emissions, land use concerns, privacy concerns, and the creation of a dependency culture.
To address this, we’ve established a grievance mechanism system to handle community concerns methodically, recording and resolving grievances in a manner that’s fully aligned with the IPIECA’s best practices. We’ve also committed to assessing the CGMs at all of our sites against the UN’s Effectiveness Criteria for Non-Judicial Grievance Mechanisms by 2025.
Corporate Volunteering
Corporate volunteering is key to our efforts to integrate sustainability into our everyday business operations. Our employees are encouraged to actively contribute to our sustainability strategy and to volunteer to support social projects and initiatives.
Goals
We aim to be an attractive employer, providing ample opportunities for personal development, including through volunteering initiatives. In addition, we are committed to being a good stakeholder and neighbor. The volunteering efforts of our team members help to achieve this through making a positive contribution to the communities in which we operate.
Contribution
Many members of our team take part in our group-wide corporate volunteering initiatives, giving them valuable experience of teamwork in new contexts and developing their social competencies. In the future, we intend to take this further by establishing opportunities for working on international projects and activities in cooperation with selected non-profit organizations.
Our Corporate Volunteering Program offers opportunities in line with our principles:
Employee Engagement Initiatives:
Download
Code of Conduct